Written by Gary
Dow Jumps 1000 Points From Overnight Lows, S&P Tops 3,000, TSY Yields Collapse (SPY +2.2%). The market is now pricing in a 50bps cut in March (was 75bps earlier today).
Here is the current market situation from CNN Money | |
![]() | North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.93% while Mexico’s IPC is up 1.40% and U.S.’s S&P 500 is up 0.72%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
![]() | Exclusive: Newly obtained documents show Huawei role in shipping prohibited U.S. gear to IranChina’s Huawei Technologies, which for years has denied violating American trade sanctions on Iran, produced internal company records in 2010 that show it was directly involved in sending prohibited U.S. computer equipment to Iran’s largest mobile-phone operator. |
![]() | Oil up over 2% as hopes of OPEC cut, stimulus counter virus gloomOil prices rose over 2% on Monday, reversing an early fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak. |
![]() | ‘Neutron’ Jack Welch, who led GE’s rapid expansion, dies at 84Jack Welch, who brought celebrity and swagger to the General Electric Co executive suite in the 1980s and 1990s by transforming a conglomerate best-known for light bulbs into the most valuable U.S. public company, has died at 84, GE said on Monday. |
![]() | Gilead buys Forty Seven for $4.9 billion to bolster cancer drug pipelineGilead Sciences Inc said on Monday it would buy Forty Seven Inc for $4.9 billion in cash, adding an experimental treatment that targets blood cancer to its portfolio of oncology drugs. |
![]() | Blackstone reshuffles London energy team amid Siccar Point sale attemptBlackstone Group Inc has reshuffled its London-based private equity team in charge of energy while trying to sell all or part of its flagship investment, North Sea oil and gas producer Siccar Point. |
![]() | White House set to meet with senior airline, cruise industry officialsThe White House will hold meetings this week with top executives from U.S. airlines and the cruise industry amid the growing coronavirus outbreak, a spokeswoman for Vice President Mike Pence confirmed Monday. |
![]() | Trump presses U.S. Federal Reserve to cut ratesU.S. President Donald Trump on Monday reiterated his call for the U.S. central bank to lower interest rates, tweeting that the Federal Reserve has been “slow to act” and should be more aggressive. |
![]() | Traders bet on big Fed rate cuts as virus spreadsThe U.S. central bank will deliver a big dose of stimulus starting this month in a bid to protect the world’s biggest economy from the impact of the spread of the new coronavirus, based on the price of futures contracts tied to the Federal Reserve’s policy rate. |
![]() | Apple to pay up to $500 million to settle U.S. lawsuit over slow iPhonesApple Inc has agreed to pay up to $500 million to settle litigation accusing it of quietly slowing down older iPhones as it launched new models, to induce owners to buy replacement phones or batteries. |
![]() | With Ink Barely Dry On ‘Historic’ Truce With US, Taliban Declares Resumption Of OperationsWith Ink Barely Dry On ‘Historic’ Truce With US, Taliban Declares Resumption Of Operations So much for the ‘historic’ US deal with the Taliban to end the Afghan war and eventually bring the troops home as it’s already unraveled, with the initial partial ceasefire lasting a little over a week. The peace deal was only signed Saturday in Doha between US State Department and Taliban representatives. With the ink barely dry, the AFP reports Monday: “The Taliban said Monday they were resuming offensive operations against Afghan security forces, ending the partial truce that preceded the signing of a deal between the insurgents and Washington.”Â
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![]() | Bizarre Pink-Colored Smoke Over Canadian Town Worries ResidentsBizarre Pink-Colored Smoke Over Canadian Town Worries Residents Authored by Emma Fiala via The MindUnleashed.com, Residents of one town in Canada were confused Friday morning when they saw pinkish-purple smoke filling the skies. |
![]() | “Humanity Now Has A Common Enemy”: WHO Puts Virtue-Signaling Above Virus-Fighting As Deaths Climb: Live Updates“Humanity Now Has A Common Enemy”: WHO Puts Virtue-Signaling Above Virus-Fighting As Deaths Climb: Live Updates Summary: 2nd US death reported in Washington State Gottlieb warns US cases likely in ‘low thousands’ BMW tells 150 to quarantine after Munich employee infected WHO’s Tedros: Virus is “common enemy” of humanity so don’t focus on blame Jordan reports first two cases Death toll in France doubles Tunisia reports first case UK total climbs to 40 OECD warns global growth could fall by half Indonesia reports first cases “Progress is being made” toward a vaccine Cuomo says NY expects more cases India confirms 2 more cases ‘Official’ Iran death toll hits 66 EU confirms 38 deaths across 18 members First cases confirmed in Fla. 2 Amazon employees test positive in Milan Virus now in 7 US states: Washington, California, Illinois, Rhode Island, New York, Florida and Oregon San Antonio virus patient re-hospitalized after testing positive China warns it could face ‘locust invasion’ * * * Update (1130ET): Toward the end of the Q&A with reporters following Monday’s press briefing, Dr. Tedros told a reporter that humanity now has a “common enemy” and should focus on fighting it instead of apportioning blame. The WHO Director-General made the remark in response to a question about the culpability of certain governments for the global spread of the coronavirus. |
![]() | Dow Jumps 1000 Points From Overnight Lows, S&P Tops 3,000, TSY Yields CollapseDow Jumps 1000 Points From Overnight Lows, S&P Tops 3,000, TSY Yields Collapse Will jawboning alone do it? The market is now pricing in a 50bps cut in March (was 75bps earlier today) |
![]() | Virus pushes the world to the brink of another financial crisisVirus pushes the world to the brink of another financial crisisOECD has warned of possible global contraction this quarter as the outbreak hammers demand and supply. |
![]() | India’s job crisis is only getting worseIndia’s job crisis is only getting worseIndia’s unemployment rate rose to 7.78% in February, the highest since October 2019, as per CMIE data. |
![]() | How SBI Card IPO fares against global peersHow SBI Card IPO fares against global peersAnalysts who reviewed the IPO are almost unanimous it deserves a premium to its peers. |
![]() | February 2020 ISM and Markit Manufacturing Surveys Are In Expansion But Marginally DeclinedWritten by Steven Hansen The ISM Manufacturing survey declined and remains barely in expansion. The Markit PMI manufacturing index also declined and remains barely in expansion. |
![]() | The Ratings Game: Nio stock falls after Citi downgrade warns that new partnership isn’t a cure-allShares of Chinese electric-car maker Nio Inc. are falling after a Citi analyst expresses concerns about the company’s œunderwhelming performance as of late, as well as a new arrangement with the government of Hefei. |
![]() | Howard Gold’s No-Nonsense Investing: Things to do ” and three things not to do ” to keep sane during a stock market panicTune out most media, look on the bright side and keep doing what you’re doing, says Howard Gold. |
![]() | The Tell: Stock-market expert says what many are thinking after Dow sheds 3,600 points in a week: ‘This market is not normal’The breadth and intensity of this coronavirus-fueled stock market selloff has some strategists scratching their heads. Thomas Lee, founder of Fundstrat Global Advisors, has some ideas why the market is acting oddly. |
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